Selective catalytic reduction (SCR) systems are being widely used to protect the environment from harmful gases produced by several industries. An SCR system converts harmful oxides of nitrogen (NOX) into harmless nitrogen (N2) and water (H2O). This technology is the most resourceful method of decreasing NOX emissions in coal fired power plants wherein about 70 per cent to 90 per cent productivity is required. Consequently, the global SCR systems for coal fired plants market is projected to register a significant growth rate during the forecast period of 2016 to 2024.
Global SCR Systems for Coal Fired Plants Market: Trends and Prospects
The global SCR systems for coal fired plants market is prospering due to various factors such as recent development in technologies, growing energy demand, strict laws pertaining to the emission of harmful gases, and the cost effectiveness of coal as compared to oil and gas. In addition, incentives and tax benefits given by governments will propel the use of SCR systems in coal fired power plants. However, high cost involved in setting up of SCR systems and the existence of alternative fuels pose as the major obstacles in the growth of the market for SCR systems. On the basis of configuration, high dust SCR systems are extensively used for NOX reduction in power plants. For waste incineration systems and glass furnaces, the compact designed tail end SCR systems are more in demand for reducing NOX.
Global SCR Systems for Coal Fired Plants Market: Regional Analysis
The global SCR systems for coal fired plants market can be segmented on the basis of geography into Asia Pacific, Europe, North America, and Rest of the World. Currently, North America accounts for most of the demand, especially driven by the country-wide markets of the U.S., Mexico, and Canada. On the other hand, Asia Pacific is expected to turn into a highly profitable region during the forecast period, with maximum demand stemming from China, India, Japan, and Indonesia. Presently, China and India depend on their local coal reserves besides importing from countries such as Indonesia, South Africa, and Australia to fuel their thermal power plants.